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Columbia Power Service Plan 2014/15 – 2016/17 Key Facts

On February 18, 2014, Columbia Power Corporation (Columbia Power) released its 2014/15–2016/17 Service Plan. Included in the Service Plan are details regarding Columbia Power’s renewed mandate and the decision to return a $280 million initial investment from the provincial government and to repay a $20 million loan from Columbia Basin Trust.

The following are key facts regarding the 2014/15–2016/17 Service Plan:

  • Columbia Power has a renewed mandate to translate power project investments into benefits for the residents of the Columbia Basin and the Province of B.C.
  • Columbia Power will be making a one-time dividend payment of $280 million to the provincial government to repay the Province’s initial investment in the Corporation.
  • $250 million will be a return of the Province’s initial cash investment in Columbia Power and $30 million will be a modest return on that investment.
  • $20 million will be repaid to Columbia Basin Trust on a loan from CBT Energy, a subsidiary of Columbia Basin Trust.
  • Columbia Power is nearing completion of its three mandated projects — Waneta Expansion Project, Arrow Lakes Generating Station and the Brilliant Expansion Project.
  • Going forward Columbia Power will continue to own in partnership, and manage, the Waneta Expansion Project, Arrow Lakes Generating Station, and Brilliant Dam and Expansion Generating Station.
  • The final mandated project, the Waneta Expansion Project, is progressing well. It is currently on-budget and on-schedule for completion in spring 2015.
  • Columbia Power will also begin implementing its new mandate of power development projects in partnership with BC Hydro.
  • Columbia Power will continue to manage its joint venture assets with Columbia Basin Trust and will continue to work with local government and community stakeholders to advance projects in the region.
  • Columbia Basin Trust and the joint venture power projects are separate entities and are not impacted by the dividend payment to the Province.

For further information, please contact:

Bree Seabrook
Manager, Communications
Columbia Power Corporation
Tel: 250.304.6021
Cell: 250.608.0757
Email: Bree.Seabrook@columbiapower.org

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